WhiteFiber (NASDAQ:WYFI) Shares Down 6.5% - Time to Sell?

Key Points

• WhiteFiber shares fell 6.5% in Friday trading, briefly touching $36.16 before closing near $36.33, on volume well below average.
• Despite the pullback, Wall Street remains mostly constructive: 10 analysts rate the stock Buy, with a consensus “Moderate Buy” and average price target of $34.67.
• The company’s latest earnings missed expectations, reporting EPS of -$0.31 versus the -$0.24 estimate, even though revenue rose 30.4% year over year to $21.92 million.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report)'s share price fell 6.5% during mid-day trading on Friday . The company traded as low as $36.16 and last traded at $36.3310. Approximately 707,745 shares changed hands during trading, a decline of 51% from the average session volume of 1,432,276 shares. The stock had previously closed at $38.84.

Wall Street Analyst Weigh In

A number of analysts have commented on WYFI shares. Barclays initiated coverage on shares of WhiteFiber in a report on Tuesday, June 9th. They issued an "equal weight" rating and a $27.00 price objective for the company. B. Riley Financial reiterated a "buy" rating on shares of WhiteFiber in a research report on Monday, May 18th. BTIG Research upped their target price on WhiteFiber from $35.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. Cantor Fitzgerald raised their target price on WhiteFiber from $13.00 to $27.00 and gave the stock a "neutral" rating in a research note on Friday, May 15th. Finally, Needham & Company LLC boosted their price target on shares of WhiteFiber from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $34.67.

WhiteFiber Stock Performance

The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $1.48 billion and a price-to-earnings ratio of -26.56. The stock's fifty day simple moving average is $29.83 and its 200-day simple moving average is $21.34.

WhiteFiber (NASDAQ:WYFI - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.07). WhiteFiber had a negative return on equity of 9.40% and a negative net margin of 45.24%.The firm had revenue of $21.92 million for the quarter. The business's revenue for the quarter was up 30.4% compared to the same quarter last year. Analysts predict that WhiteFiber, Inc. will post -1.26 EPS for the current year.

Hedge Funds Weigh In On WhiteFiber

Institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio acquired a new stake in WhiteFiber in the fourth quarter valued at $30,000. Royal Bank of Canada raised its position in shares of WhiteFiber by 108.2% during the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company's stock worth $37,000 after acquiring an additional 1,244 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in WhiteFiber during the fourth quarter worth approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in WhiteFiber during the fourth quarter worth approximately $55,000. Finally, MetLife Investment Management LLC acquired a new position in WhiteFiber in the fourth quarter valued at approximately $106,000.

WhiteFiber Company Profile

We believe we are a leading provider of artificial intelligence (“AI”) infrastructure solutions. We own high-performance computing (“HPC”) data centers and provide cloud-based HPC graphics processing units (“GPU”) services, which we term cloud services, for customers such as AI application and machine learning (“ML”) developers (the “HPC Business”). Our Tier-3 data centers provide hosting and colocation services. Our cloud services support generative AI workstreams, especially training and inference.

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